A Store Manager Uses a Markup Rate of 25% on All

Multiple Choice

A store manager uses a markup rate of 25% on all appliances. Find the cost of a blender that sells for $64.00. Round your answer to the nearest cent. Note: Use the formula S = C + M , where S is the selling price, C is the cost price, and M is the markup. ​

A) $51.20
B) $52.20
C) $49.40
D) $53.00
E) $48.60